Top Minneapolis Trading Partners

Top US Trading Partners

Minneapolis’s trade increases 13.83 percent through March

Minneapolis’s trade with the world rose to $4,939,421,587 through the first three months of 2012, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 13.83 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 15.80 percent while imports rose 13.57 percent.

Through March the district’s top trade partners were No. 1 Canada, No. 2 China, No. 3 Japan, No. 4 Germany and No. 5 Netherlands. Through the first three months of the last year, top five spots were held by Canada, China, Germany, Japan and United Kingdom, respectively.

Taking a closer look at the leading trade partners with Minneapolis:

• No.1 Canada’s trade rose 14.71 percent to $2,563,781,881.
  Exports fell -1.14 percent to $85,779,697. Imports rose 15.35 percent to $2,478,002,184.
• No.2 China’s trade rose 13.42 percent to $761,635,518.
  Exports rose 26.74 percent to $15,104,243. Imports rose 13.18 percent to $746,531,275.
• No.3 Japan’s trade rose 44.09 percent to $264,001,635.
  Exports rose 54.41 percent to $83,274,037. Imports rose 39.79 percent to $180,727,598.
• No.4 Germany’s trade fell -19.27 percent to $184,397,220.
  Exports fell -39.14 percent to $14,905,013. Imports fell -16.89 percent to $169,492,207.
• No.5 Netherlands’s trade rose 18.22 percent to $126,048,604.
  Exports rose 49.76 percent to $91,888,495. Imports fell -24.53 percent to $34,160,109.

Minneapolis’s top five trading partners through March accounted for 78.95 percent of its trade with the world. The U.S. average for the same period was 52.49 percent.

Minneapolis had trade surpluses with 36 countries and deficits with 92 through March. That compares with 40 surpluses and 83 deficits for the same period one year earlier. The top three surpluses through March of this year were with Philippines, $101,041,729; Netherlands, $57,728,386; and Belgium, $22,952,992. The top three deficits were with Canada ($2,392,222,487), China ($731,427,032) and Germany ($154,587,194).

Meanwhile, total U.S. trade increased to $934,379,177,983, up 8.63 percent compared to the same period last year. The nation’s exports climbed 3.54 percent to $30,467,217,700 as imports rose 5.09 percent to $43,800,507,934. The nation’s top five trade districts so far this year, by value, are New York City, Los Angeles, Houston, Detroit and Laredo. The overall trade deficit was $-171,264,242,143, up compared to the same period of last year when the deficit was $-157,930,951,909.

Minneapolis’s top five exports by value through March were electronic integrated circuits; medical instruments for surgeons, dentists, vets; orthopedic appliances, artificial body parts; computers; and aircraft, in that order. Those accounted for 49.42 percent of its total outbound trade. The value of the district’s top five imports, oil, motor vehicle parts, medical instruments for surgeons, dentists, vets and internal combustion piston engines, including aircinternal combustion engines, including aircraft and , accounted for 61.42 percent of all inbound shipments.

Looking more closely at Minneapolis exports:

• Electronic integrated circuits rose 4.21 percent compared to last year to $107,266,619.
• Medical instruments for surgeons, dentists, vets rose 39.50 percent compared to last year to $90,228,862.
• Orthopedic appliances, artificial body parts rose 15.65 percent compared to last year to $31,138,556.
• Computers rose 86.23 percent compared to last year to $30,153,991.
• Aircraft rose 72.64 percent compared to last year to $29,566,527.

On the import side:

• Oil rose 15.42 percent compared to last year to $2,429,816,267.
• Motor vehicle parts fell -8.42 percent compared to last year to $81,369,084.
• Medical instruments for surgeons, dentists, vets rose 30.04 percent compared to last year to $66,347,786.
• Internal combustion piston engines, including airc fell -19.60 percent compared to last year to $50,683,056.
• Internal combustion engines, including aircraft fell -16.27 percent compared to last year to $47,121,320.

Last year the Minneapolis district posted total trade with the world of $19,063,373,721. The district’s deficit was $-13,822,002,773. At year end, the region’s top five partners were Canada, China, Germany, Japan and Netherlands. Exports totaled $2,620,685,474 and imports came to $16,442,688,247.